Classic situation in London, England. Has been a tax haven for the rich for decades. These days, foreign 'investotrs' have squeezed out the locals. According to one source, 70% of the new apartments in Central London are being bought by foreigners.
Lately, foreign money has moved out of the prime areas. Buying land and building luxury apartments that locals can't afford. Goodbye middle class. Sounds familiar?
So, the government imposes a Capital Gains Tax on foreigners in London. Then, the locals vote for Brexit. Payback time. Sounds familiar?
Currently, the leftist Labour Party is sniping at the heels of the weakened May government. What populist anti-foreign measures will result? Hail to the proletarian. 'For the many, not the few". Not surprising, London prime RE is under pressure...
“London mayor launches unprecedented inquiry into foreign property ownership”
https://www.theguardian.com/cities/2016 ... -ownership
“House sales in some central London boroughs have dropped to record lows”
http://uk.businessinsider.com/portico-f ... ble-2017-4
“A New Setback for London Property Market”
https://www.bloomberg.com/news/articles ... r-election